Major cryptocurrency exchange Binance has temporarily halted the onboarding of new users from the United Kingdom. This decision comes after the exchange’s previous local partner, Rebuildingsociety.com Limited (REBS), was restricted by the UK financial regulator, the Financial Conduct Authority (FCA), from approving cryptocurrency marketing materials. Binance is now searching for a new FCA-authorized partner to approve its crypto advertisements in order to comply with regulations. Existing UK customers can still use the platform, provided they have completed the necessary requirements. However, new products and services will not be available to them during this period. Binance will also stop accepting new users from the UK. The FCA has been maintaining strict regulations for the cryptocurrency industry, requiring crypto firms to be registered with the regulator for promotional approval. Unregistered companies like Binance must use FCA-authorized firms for this purpose. Binance had announced its partnership with REBS just two days before the FCA imposed restrictions on the latter. The exchange claims to have invested significant time and resources to ensure compliance with the regulations. The FCA recently added 145 crypto businesses to its list of unauthorized firms.

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Information	Details
Geography	Europe
Countries	🇬🇧
Sentiment	neutral
Relevance Score	1
People	None
Companies	HTX, Rebuildingsociety.com Limited (REBS), Binance, Financial Conduct Authority (FCA), Kucoin
Currencies	None
Securities	None